Complaint Review: America's Servicing Company

I am posting this suggestion for people that have just found out that their mortgage is being transferred to America's Servicing Company or any other servicer for that matter.

When I first found out that my loan was being transferred I had never heard of ASC. I did some research on the Internet and I came across this website and some postings that scared the heck out of me, I even lost sleep over it! No Lie!

I looked into Refi, but then I came across a friend that also had their loan transferred to ASC. I calmed down when they told me they never had a problem. I decided to stick it out, I really didn't want to pay the prepayment penalty if I didn't have to. My loan was transferred on Feb 1st 2005 it is now Sept 2005 and I have NOT had any problems.

This is what I did as a consumer and a homeowner concerned about the future of my home.

1) Prior to the transfer date, I called my existing servicer and made sure that all of my information was up to date and accurate. I had them send me a print out of everything and I have it filed away (including the envelope) IF your past the transfer date call ASC or whichever servicer you have and verify with them. (If you are behind in payments, no one is judging you just pay it immediately, don't delay)

2) Because ASC is a few states away, I sent my first payment certified to ASC 1 day before the transfer date, Feb 1st. Which was my due date as well. I have confirmation that they rec'd it, a copy of my check, and my bank statement showing withdraw. I called ASC and was told it posted appox a week later (I didn't send it earlier because I was afraid it would be rec'd prior to the transfer date and would not have been applied to my account.

3) Day one of transfer, I faxed over to ASC my proof of Ins, even though my previous servicer had it on file. I called and confirmed it was received. I have the fax confirmation sheet filed away as well.

4) I logged name, date, emp ID# of every one that I have spoken too on a pad of paper that I only use to document conversations regarding my loan.

5) I made the choice to enroll in direct withdraw with ASC. I didn't want to deal with the cancelled checks, cert mail. I opened a separate checking account that I use for this purpose only. ASC has taken out my payments on time with no hassles. It also shows my Loan # on the withdraw.

6) I keep every statement they send me. (Yes, including the envelope) I verify payment made, payment due and make sure there is nothing in question.

I think I pretty much covered everything I have done and continue to do. Will I have a problem in the future? LORD I hope not, but if so I am PREPARED! Please feel free to ask questions, I will try to answer if I can, however you can also call ASC, they were very nice to me. (or call whichever servicer your being transferred to)

I want to offer you this last bit. DO NOT assume someone else is responsible to verify your loan is up to date and accurate. This is your responsibility to be sure of that. This is your home and your investment. Be Thorough.

I am expecting to see negative comments posted here from people that are having problems. I am going to assume that they did not do all of the above and I truly hope that they find solutions.

I am simply making suggestions to newly transferred homeowner who have been scared by some of the postings on this website, like I was.

In a way I am annoyed because I was so stressed out and scared at first, and now I think I probably didn't get the whole story. But at the same time, I THANK them because I probably would not have done all that I did to prevent a problem from happening.

Best of Luck to ALL!

And get some sleep!
:)

I am posting this suggestion for people that have just found out that their mortgage is being transferred to America's Servicing Company or any other servicer for that matter.

When I first found out that my loan was being transferred I had never heard of ASC. I did some research on the Internet and I came across this website and some postings that scared the heck out of me, I even lost sleep over it! No Lie!

I looked into Refi, but then I came across a friend that also had their loan transferred to ASC. I calmed down when they told me they never had a problem. I decided to stick it out, I really didn't want to pay the prepayment penalty if I didn't have to. My loan was transferred on Feb 1st 2005 it is now Sept 2005 and I have NOT had any problems.

This is what I did as a consumer and a homeowner concerned about the future of my home.

1) Prior to the transfer date, I called my existing servicer and made sure that all of my information was up to date and accurate. I had them send me a print out of everything and I have it filed away (including the envelope) IF your past the transfer date call ASC or whichever servicer you have and verify with them. (If you are behind in payments, no one is judging you just pay it immediately, don't delay)

2) Because ASC is a few states away, I sent my first payment certified to ASC 1 day before the transfer date, Feb 1st. Which was my due date as well. I have confirmation that they rec'd it, a copy of my check, and my bank statement showing withdraw. I called ASC and was told it posted appox a week later (I didn't send it earlier because I was afraid it would be rec'd prior to the transfer date and would not have been applied to my account.

3) Day one of transfer, I faxed over to ASC my proof of Ins, even though my previous servicer had it on file. I called and confirmed it was received. I have the fax confirmation sheet filed away as well.

4) I logged name, date, emp ID# of every one that I have spoken too on a pad of paper that I only use to document conversations regarding my loan.

5) I made the choice to enroll in direct withdraw with ASC. I didn't want to deal with the cancelled checks, cert mail. I opened a separate checking account that I use for this purpose only. ASC has taken out my payments on time with no hassles. It also shows my Loan # on the withdraw.

6) I keep every statement they send me. (Yes, including the envelope) I verify payment made, payment due and make sure there is nothing in question.

I think I pretty much covered everything I have done and continue to do. Will I have a problem in the future? LORD I hope not, but if so I am PREPARED! Please feel free to ask questions, I will try to answer if I can, however you can also call ASC, they were very nice to me. (or call whichever servicer your being transferred to)

I want to offer you this last bit. DO NOT assume someone else is responsible to verify your loan is up to date and accurate. This is your responsibility to be sure of that. This is your home and your investment. Be Thorough.

I am expecting to see negative comments posted here from people that are having problems. I am going to assume that they did not do all of the above and I truly hope that they find solutions.

I am simply making suggestions to newly transferred homeowner who have been scared by some of the postings on this website, like I was.

In a way I am annoyed because I was so stressed out and scared at first, and now I think I probably didn't get the whole story. But at the same time, I THANK them because I probably would not have done all that I did to prevent a problem from happening.

Best of Luck to ALL!

And get some sleep!
:)

What reason did they give you for returning your payment?

I know it's annoying to get hit with any fees, especially when you think it's unjust. Just PLEASE be sure to pay it, if they don't correct the problem and THEN fight to get it corrected. I have read way to many post where people decided they weren't going to pay and it caused LARGER and more EXPENSIVE problems later. -it can be a major ripple effect.


Best of Luck